There is a substantial risk of loss associated with trading Derivatives . Losses can and will occur. My methods will not ensure profits

Friday, December 20, 2013

20122013

Nifty opened near PDC and refused to go below PDC.First candle acted as IR. Going long was not an option as there were BRN and MSP above. There was a BOF of BRN skipped it as it was counter bias and IRH,PDC,IRL,PDL as barriers below. Went long on the BPB of MSP.Covered around 6240. Nifty traded in a range for a while. BOF of range low ( MSP) was a long signal. Waited as there was no momentum. Finally went long on the BPB of range High.Captured the entire 40 point move and covered at BRN 6300.

I am delightful to see Nifty - price action charts from you. I am very much interested in price action, as a Forex trader I prefer only daily time frame.I am wondering how it works for short time frames on Nifty? Anyhow I am going through your charts and terminology. once I read your charts, I can provide my comments.Hope your blog can helpful for me start Trading on nifty again, which I left five years ago.